Louisiana Civil Code 3163 – Partial payment of debt secured by pledge of several things
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Terms Used In Louisiana Civil Code 3163
- Contract: A legal written agreement that becomes binding when signed.
A clause in a contract restricting the pledge of the rights of a party to payments that are or will become due under the contract, making the pledge or its enforcement a default under the contract, or providing that the other party is excused from performance or may terminate the contract on account of the pledge, is without effect.
Acts 2014, No. 281, §1, eff. Jan. 1, 2015.